The Moscow Exchange and RTS indices increased by 0.35−1.04% | November 21, 2023

Source: RIA News”

MOSCOW, November 21. /TASS/. The Russian stock market on Tuesday continued to move in different directions near 3,200 points according to the Moscow Exchange index. At the end of the day, the Moscow Exchange index increased by 0.35%, to 3,218.48 points, and the RTS dollar index – by 1.04%, to 1,154.39 points. The yuan exchange rate decreased by 0.03%, to 12.29 rubles, the dollar – by 0.53%, to 87.86 rubles, the euro – by 0.52%, to 96.18 rubles.

“Like the day before, buyers were held back by the strengthening ruble. In addition, the recovery in oil prices has stalled at just above $80 per barrel Brent. Nevertheless, towards the end of the day, purchases prevailed in our market,” said Alexander Bakhtin, investment strategist at BCS World of Investments.

The external background remained generally neutral.

The greatest growth by the end of the session was shown by the shares of Polymetal (+4.59%), receipts of Ozon (+4.31%), ordinary and preferred shares “Mechela”(+3.97% and +2.60%), HeadHunter receipts (+3.58%), ordinary and preferred shares “Tatneft”(+2.86% and +2.52%), securities “Seligdara”(+2.60%). TCS Group receipts rose 1.88%.

“Ozon’s receipts continued to increase after the publication of financial results for the third quarter of 2023 earlier in November,” said Veles Capital analyst Elena Kozhukhova.

Shares of gold mining companies were in demand as gold prices returned to their highs since early November, around $2,010 per ounce. “At the same time, silver prices jumped by 2%, to around $24 per ounce. “Seligdar” shareholders will also decide on dividends for nine months in the amount of 2 rubles per share (yield of about 3%),” the expert added.

The Board of Directors of Tatneft on Tuesday recommended the payment of dividends for the third quarter of 2023 in the amount of 35.17 rubles per share, which implies a quarterly yield of about 5.5% for both types of securities. The registry will close on January 9, 2024, the specialist also explained.

TCS Group’s receipts showed a rebound for the third session in a row. “On Wednesday, the group intends to publish financial results for the third quarter of 2023 under IFRS, and today the meeting of shareholders approved the authorization of the board of directors to repurchase ordinary shares or interests in ordinary shares, including global depositary receipts, up to a maximum of 10% of the subscribed capital. “Tinkoff is preparing for redomiciliation from Cyprus and has changed the company’s charter,” the specialist said.

At the same time, the uncertainty of the redomiciliation process is against TCS Group at the moment. In addition, TCS Group, unlike Sberbank and Bank St. Petersburg, still does not pay dividends.

At the end of the session, the biggest losses were in receipts of “Cyan” (-4.23%), receipts of “Rusagro”(-1.78%), receipts of Globaltrans (-1.52%), papers “Cherkizovo”(-1.45%), receipts X5 Retail Group (-1.35%), ordinary shares of Rostelecom (-1.33%).

“Tsian’s receipts were adjusted despite the financial statements for the third quarter according to IFRS, which exceeded forecasts in terms of key indicators. Rostelecom shares were adjusted after shareholders approved dividends for 2022 in the amount of 5.4465 rubles for both types of securities,” Kozhukhova said.

Forecast for November 22

The dynamics of the ruble exchange rate, commodity prices, regulatory signals and geopolitics will remain the focus of investors’ attention. The forecast of “BCS World of Investments” for the Moscow Exchange index on November 22 is 3150-3250 points, at the ruble to dollar exchange rate – 87-90 rubles. Freedom Finance Global expects that the Moscow Exchange index tomorrow may move in the corridor of 3200-3300 points, the dollar/ruble pair – in the range of 87-90 rubles, euro/ruble – in the corridor of 96-98.5 rubles, yuan/ruble – in the corridor of 12 ,2−12.6 rubles.

Tomorrow markets may evaluate information from the minutes of the last meeting Fed, which will be published later today. The oil market is looking forward to meetings with interest OPEC+ this coming weekend. Russian President Vladimir Putin is expected to attend a virtual G20 summit hosted by India on Wednesday. The ECB will publish a financial stability report. The US will release data on core orders for durable goods in October.

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